FG launches $25m funding portal to support local shipowners
[NigerianEye - Nigeria] - 23/01/2026
The federal government has launched a $25 million Cabotage Vessel Financing Fund (CVFF) portal to enable Nigerians to access financing for indigenous ship ownership. Adegboyega Oyetola, the minister of marine and blue economy, launched the portal in Lagos on Thursday. In a statement following the event, Bolaji Akinola, the minister’s spokesperson, said the CVFF was established under the Coastal and Inland Shipping Act of 2003 to provide financing for Nigerian shipping companies but remained inaccessible for over 20 years. The launch of the CVFF application portal, according to Akinola, (…)
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